72,125 Shares in Wingstop Inc. $WING Bought by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors acquired 72,125 Wingstop shares worth approximately $12.5 million, representing about 0.26% of the company. Several other institutional investors, including BlackRock and Steadfast Capital Management, also increased or initiated positions.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $241.81, although several firms recently lowered their targets.
• Wingstop shares opened at $113.63, down 5.7%, after trading between $110.44 and $342.10 over the past year. The company beat quarterly earnings expectations, while revenue rose 6.5% year over year and its quarterly dividend increased to $0.33 from $0.30.

Ceredex Value Advisors LLC bought a new position in shares of Wingstop Inc. (NASDAQ:WING - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 72,125 shares of the restaurant operator's stock, valued at approximately $12,507,000. Ceredex Value Advisors LLC owned approximately 0.26% of Wingstop at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WING. BlackRock Inc. acquired a new position in shares of Wingstop during the second quarter worth about $481,314,000. Steadfast Capital Management LP raised its position in Wingstop by 296.2% in the 3rd quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator's stock valued at $239,227,000 after buying an additional 710,621 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Wingstop in the 2nd quarter valued at approximately $80,456,000. Atreides Management LP bought a new stake in Wingstop in the 4th quarter valued at approximately $93,012,000. Finally, Wasatch Advisors LP bought a new stake in Wingstop in the 2nd quarter valued at approximately $114,758,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group reaffirmed a "neutral" rating on shares of Wingstop in a research note on Tuesday, July 14th. Barclays reduced their target price on shares of Wingstop from $330.00 to $235.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. BTIG Research lowered their price target on shares of Wingstop from $305.00 to $265.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Wall Street Zen raised shares of Wingstop from a "sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, Mizuho decreased their price objective on Wingstop from $280.00 to $240.00 and set an "outperform" rating for the company in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Wingstop currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.81.

Wingstop Trading Down 5.7%

Shares of NASDAQ WING opened at $113.63 on Friday. Wingstop Inc. has a 12 month low of $110.44 and a 12 month high of $342.10. The stock has a 50 day moving average of $143.71 and a 200-day moving average of $172.42. The company has a market capitalization of $3.10 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.43 and a beta of 1.81.

Wingstop (NASDAQ:WING - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.16. Wingstop had a negative return on equity of 16.31% and a net margin of 16.15%.The business had revenue of $185.56 million for the quarter, compared to analysts' expectations of $190.25 million. During the same quarter in the prior year, the business earned $1.00 EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Analysts predict that Wingstop Inc. will post 4.5 EPS for the current fiscal year.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 5th. Stockholders of record on Saturday, August 15th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from Wingstop's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. Wingstop's payout ratio is currently 31.35%.

About Wingstop

Wingstop Inc NASDAQ: WING is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company's core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.

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